MANILA -Popular e-wallet brand GCash has introduced a small loan product meant to protect a population prone to borrowing through shady means.
GCash chief marketing officer Neil Trinidad told reporters Wednesday the company was testing the Sakto Loan product, which allows users to borrow as low as P100 up to P1,000. It is targeted to be fully rolled out before the end of the year.
“All of our loans are accessible and fair,” Trinidad said, noting that “if you are borrowing from informal lenders, it is often predatory. The interest rates are very very high.”
For the Sakto Loan product, Fuse Lending president and CEO Tony Isidro said that no interest fee would be collected. However…
Keep on reading: GCash to allow users to borrow as low as P100
